REGISTERED NUMBER: SC015569 (Scotland)

Unaudited Financial Statements for the Year Ended 31st December 2025

for

Medquest Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

W M Laidlaw

Mrs B M Laidlaw

P F Laidlaw

SECRETARY:

W M Laidlaw

REGISTERED OFFICE:

C/o Wright, Johnston & Mackenzie Llp

12 Hope Street

Edinburgh

EH2 4DB

REGISTERED NUMBER:

SC015569 (Scotland)

ACCOUNTANTS:

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

FIXED ASSETS

Intangible assets

4

2,450

2,800

Tangible assets

5

573,170

585,923

Investments

6

25,596

25,596

Investment property

7

200,000

200,000

801,216

814,319

CURRENT ASSETS

Stocks

20,000

20,000

Debtors

8

462,797

480,942

Cash at bank

19,133

72,521

501,930

573,463

CREDITORS

Amounts falling due within one year

9

82,690

93,490

NET CURRENT ASSETS

419,240

479,973

TOTAL ASSETS LESS CURRENT LIABILITIES

1,220,456

1,294,292

CREDITORS

Amounts falling due after more than one year

10

8,216

8,216

NET ASSETS

1,212,240

1,286,076

CAPITAL AND RESERVES

Called up share capital

24,739

24,739

Retained earnings

1,187,501

1,261,337

1,212,240

1,286,076

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th May 2026 and were signed on its behalf by:

P F Laidlaw - Director

1.	STATUTORY INFORMATION

Medquest Group Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The company's principle intangible assets are publishing titles. The company does not capitalise internally generated publishing titles. Titles acquired are recorded at the valuation at the date of acquisition. These publishing titles have no finite life.

The carrying value of the titles is is reviewed for impairment at least annually with testing undertaken to determine any diminution in the recoverable amount below carrying value. The recoverable amount is the higher of the fair value less costs to sell and the value in use, which is based on the net present value of estimated future cash flows. Any impairment loss is recognised as an expense immediately.

Amortisation is provided on the following basis:

Publishing rights - 10% on a straight line basis

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings - 2% straight line

Plant and equipment - 15% reducing balance

Fixtures and fittings - 10% reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st January 2025

and 31st December 2025

2,800

AMORTISATION

Charge for year

350

At 31st December 2025

350

NET BOOK VALUE

At 31st December 2025

2,450

At 31st December 2024

2,800

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st January 2025

545,549

40,374

585,923

Additions

1,546

176

1,722

At 31st December 2025

547,095

40,550

587,645

DEPRECIATION

Charge for year

9,390

5,085

14,475

At 31st December 2025

9,390

5,085

14,475

NET BOOK VALUE

At 31st December 2025

537,705

35,465

573,170

At 31st December 2024

545,549

40,374

585,923

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2025

and 31st December 2025

25,596

NET BOOK VALUE

At 31st December 2025

25,596

At 31st December 2024

25,596

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2025

and 31st December 2025

200,000

NET BOOK VALUE

At 31st December 2025

200,000

At 31st December 2024

200,000

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

445,007

461,255

Other debtors

17,790

19,687

462,797

480,942

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

69,856

67,497

Taxation and social security

6,359

5,936

Other creditors

6,475

20,057

82,690

93,490

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

8,216

8,216